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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
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<SEC-DOCUMENT>0001209191-10-026458.txt : 20100510
<SEC-HEADER>0001209191-10-026458.hdr.sgml : 20100510
<ACCEPTANCE-DATETIME>20100510162159
ACCESSION NUMBER:		0001209191-10-026458
CONFORMED SUBMISSION TYPE:	3
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20100430
FILED AS OF DATE:		20100510
DATE AS OF CHANGE:		20100510

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MORGAN STANLEY MUNICIPAL PREMIUM INCOME TRUST
		CENTRAL INDEX KEY:			0000842891
		STANDARD INDUSTRIAL CLASSIFICATION:	UNKNOWN SIC - 0000 [0000]
		IRS NUMBER:				133498050
		STATE OF INCORPORATION:			NY
		FISCAL YEAR END:			0531

	BUSINESS ADDRESS:	
		STREET 1:		522 FIFTH AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10036
		BUSINESS PHONE:		800-869-6397

	MAIL ADDRESS:	
		STREET 1:		522 FIFTH AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10036

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MORGAN STANLEY DEAN WITTER MUNICIPAL PREMIUM INCOME TRUST
		DATE OF NAME CHANGE:	19981221

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MUNICIPAL PREMIUM INCOME TRUST/MA
		DATE OF NAME CHANGE:	19930721

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALLSTATE MUNICIPAL PREIMIUM INCOME TRUST/MA
		DATE OF NAME CHANGE:	19930721

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			UBS AG
		CENTRAL INDEX KEY:			0001114446
		STANDARD INDUSTRIAL CLASSIFICATION:	NATIONAL COMMERCIAL BANKS [6021]
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	811-05688
		FILM NUMBER:		10816534

	BUSINESS ADDRESS:	
		STREET 1:		BAHNHOFSTRASSE 45
		STREET 2:		P O BOX CH 8098
		CITY:			ZURICH
		STATE:			V8
		ZIP:			-
		BUSINESS PHONE:		41-1-234-4100

	MAIL ADDRESS:	
		STREET 1:		BAHNHOFSTRASSE 45
		STREET 2:		P O BOX CH 8098
		CITY:			ZURICH
		STATE:			V8
		ZIP:			-
</SEC-HEADER>
<DOCUMENT>
<TYPE>3
<SEQUENCE>1
<FILENAME>c00694_3x0.xml
<DESCRIPTION>MAIN DOCUMENT DESCRIPTION
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0203</schemaVersion>

    <documentType>3</documentType>

    <periodOfReport>2010-04-30</periodOfReport>

    <noSecuritiesOwned>0</noSecuritiesOwned>

    <issuer>
        <issuerCik>0000842891</issuerCik>
        <issuerName>MORGAN STANLEY MUNICIPAL PREMIUM INCOME TRUST</issuerName>
        <issuerTradingSymbol>PIA</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001114446</rptOwnerCik>
            <rptOwnerName>UBS AG</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>BAHNHOFSTRASSE 45</rptOwnerStreet1>
            <rptOwnerStreet2>PO BOX CH-8021</rptOwnerStreet2>
            <rptOwnerCity>ZURICH</rptOwnerCity>
            <rptOwnerState>V8</rptOwnerState>
            <rptOwnerZipCode></rptOwnerZipCode>
            <rptOwnerStateDescription>SWITZERLAND</rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Auction Preferred Stock</value>
                <footnoteId id="F3"/>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>54</value>
                    <footnoteId id="F2"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By subsidiary - see footnote</value>
                    <footnoteId id="F1"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <derivativeTable></derivativeTable>

    <footnotes>
        <footnote id="F1">This Statement is filed by UBS AG for the benefit and on behalf of UBS Securities LLC and UBS Financial Services Inc., two-wholly owned subsidiaries of UBS AG to which UBS AG has delegated portions of its performance obligations with respect to the Auction Rate Securities Rights issued by UBS AG to certain clients and pursuant to which the securities reported herein have been purchased from such clients.</footnote>
        <footnote id="F2">Pursuant to the Global Relief Letter referred to below, this filing reports holdings of the Series of Auction Preferred Stock identified in Item 1 of this Table I on an aggregated basis.</footnote>
        <footnote id="F3">(CUSIP No[s]. 61745P387, 61745P395, 61745P411)</footnote>
    </footnotes>

    <remarks>The Shares reported herein represent UBS AG's combined holdings in multiple series of auction preferred securities of the issuer, which
are treated herein as one class of securities in accordance with the Auction Rate Securities -- Global Exemptive Relief letter (&quot;Global
Relief Letter&quot;) issued by the staff of the Securities and Exchange Commission (SEC) on September 22, 2008.  UBS AG
undertakes to provide, upon request by the SEC staff, the issuer, or a security holder of the issuer, complete information regarding
the number of securities identified in Table I purchased and sold at each different price and date for the period between the date
on which beneficial ownership exceeded ten percent and January 31, 2009, as required by the Global Relief Letter.</remarks>

    <ownerSignature>
        <signatureName>/s/ Anthony DeFilippis</signatureName>
        <signatureDate>2010-05-10</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>/s/ Paul J. Sitarz</signatureName>
        <signatureDate>2010-05-10</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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